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11709 Little Elm Creek Argyle, TX 76226

5 Beds 4 Baths 4,208 sqft Built 2020

$684,990

List Price

$3,790

$3.5K - $4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $162.78
  • 9 Days on Market
  • MLS # : 14460627
  • Updated Date : 10/27/2020 at 13:17
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,208 sqft
  • Baths : 4 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14460627 - Built by Drees Custom Homes - January completion! ~ Fantastic open floor plan! The kitchen is complete with 6 burner gas cooktop, double ovens and an island facing the family room. The family, dining, and kitchen are all open concept with plenty of windows for natural light! This is a 3-car garage on a quite, cul-de-sac street. Up the spiral staircase you will find 3 more bedrooms, gameroom, and a media room.

SEE MORE

MARKET HIGHLIGHTS

  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)
  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Canyon Falls

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k417k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Canyon Falls

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Argyle Intermediate School Primary Regular 295 17 8
Argyle Intermediate School Middle Regular 295 17 8
Argyle High School High Regular 711 50 8

Argyle Intermediate School

  • Education Level: Primary
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle Intermediate School

  • Education Level: Middle
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle High School

  • Education Level: High
  • # of students: 711
  • # of teachers: 50
8
GreatSchools Rating
 

$616,491$753,489$684,990

PURCHASE PRICE

$3,411$4,169$3,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,790
EXPENSES Loan Payment -$2,527
Property Tax -$1,362
Property Insurance -$270
HOA -$217
Property Management Fees -$99
CASH FLOW
-$686

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$684,990

PROJECTED PRICE

$3,790

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$183,522

INVESTMENT

$183,522

Down Payment
$171,248
Rehab Estimate
$2,000
Closing Costs
$10,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,527

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $171,248
Loan Amount $513,743
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,422

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $3,790

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $3,766

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,7903$3,850
$3,850
RENT COMPS ANALYSIS
  • 11709 Little Elm Creek Argyle, TX 2
    • 5 beds 4 baths ∙ 4,208 Sqft ∙ Built 2020 5 beds 4 baths ∙ 4,208 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,790
    • $0.90
    •  
  • 10901 Falling Leaf Trail Flower Mound, TX 1
    • 5 beds 5 baths ∙ 4,220 Sqft ∙ Built 2018 5 beds 5 baths ∙ 4,220 Sqft ∙ Built 2018
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $0.85
    •  
  • 6705 Oak Knoll Road Flower Mound, TX 3
    • 4 beds 5 baths ∙ 4,099 Sqft ∙ Built 2016 4 beds 5 baths ∙ 4,099 Sqft ∙ Built 2016
    property image
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $0.94
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460627
Last Updated: 10/27/2020
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